Magazine article American Banker

Ex-Mississippi Official Ready to Take Last Spot on the FDIC's Board

Magazine article American Banker

Ex-Mississippi Official Ready to Take Last Spot on the FDIC's Board

Article excerpt

Joseph H. Neely is scheduled to be sworn in today as a director of the Federal Deposit Insurance Corp., bringing the five-member board to full strength for the first time since August 1992.

It's been a long road for the Mississippi banking commissioner. Rumblings of his appointment first surfaced in December 1994 and his nomination finally came through last July. The Senate confirmed him Dec. 22.

Mr. Neely, 44, has spent the past month preparing to move from Vicksburg to the Washington area. With Mr. Neely in place, the FDIC is planning its first public board meeting since mid-December for Feb. 6.

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It never hurts to have friends in high places, and for Washington lobbyists it doesn't get much higher than director of legislative affairs at the White House.

So the American Bankers Association has to be pretty happy that John Hilley will be President Clinton's new top lobbyist come Feb. 1.

Mr. Hilley, a top aide to Senate Minority Leader Thomas Daschle, went to Princeton with Edward L. Yingling, the ABA's top lobbyist. "He was one of my closest friends," Mr. Yingling recalled.

Mr. Yingling said the choice of Mr. Hilley, a PhD economist, bodes well for the banking industry and financial services in general. "He's knowledgeable about financial issues - that's what he studied - and he knows banking."

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Newly elected Rep. Jesse Jackson Jr. has secured a spot on the House Banking Committee.

Winner of a special election to replace Mel Reynolds, Rep. …

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